Tortoise Capital Advisors L.L.C. Buys 14,115 Shares of ConocoPhillips $COP

Key Points

• Tortoise Capital Advisors L.L.C. increased its holdings in ConocoPhillips by 15.3%, acquiring an additional 14,115 shares, bringing their total to 106,076 shares valued at approximately $11.14 million.
• ConocoPhillips reported a Q2 EPS of $1.42, beating analyst estimates by $0.06 and showing a year-over-year revenue growth of 4.3% to $14.94 billion.
• The company declared a quarterly dividend of $0.78 per share, representing an annualized yield of 3.3%, to be paid on September 2nd.

Tortoise Capital Advisors L.L.C. raised its position in ConocoPhillips (NYSE:COP - Free Report) by 15.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,076 shares of the energy producer's stock after acquiring an additional 14,115 shares during the quarter. Tortoise Capital Advisors L.L.C.'s holdings in ConocoPhillips were worth $11,140,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. TD Waterhouse Canada Inc. boosted its position in ConocoPhillips by 111.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 30,460 shares of the energy producer's stock valued at $3,020,000 after buying an additional 16,086 shares during the period. J. Safra Sarasin Holding AG lifted its position in shares of ConocoPhillips by 25.2% in the 4th quarter. J. Safra Sarasin Holding AG now owns 7,148 shares of the energy producer's stock worth $709,000 after purchasing an additional 1,439 shares during the period. IHT Wealth Management LLC raised its stake in shares of ConocoPhillips by 9.1% during the 4th quarter. IHT Wealth Management LLC now owns 10,124 shares of the energy producer's stock worth $1,004,000 after acquiring an additional 848 shares in the last quarter. Dark Forest Capital Management LP raised its stake in shares of ConocoPhillips by 190.1% during the 4th quarter. Dark Forest Capital Management LP now owns 11,916 shares of the energy producer's stock worth $1,182,000 after acquiring an additional 7,808 shares in the last quarter. Finally, MGO One Seven LLC increased its stake in ConocoPhillips by 19.5% during the 4th quarter. MGO One Seven LLC now owns 21,037 shares of the energy producer's stock valued at $2,086,000 after purchasing an additional 3,437 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Up 1.9%

Shares of COP stock traded up $1.8440 during mid-day trading on Friday, reaching $96.6240. 6,338,392 shares of the company were exchanged, compared to its average volume of 6,881,362. The company has a market capitalization of $120.68 billion, a P/E ratio of 12.97, a P/E/G ratio of 2.53 and a beta of 0.67. The business's 50 day simple moving average is $93.80 and its 200 day simple moving average is $93.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter in the previous year, the company earned $1.98 EPS. The business's revenue for the quarter was up 4.3% compared to the same quarter last year. Research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, August 18th. ConocoPhillips's dividend payout ratio (DPR) is currently 41.88%.

Wall Street Analysts Forecast Growth

COP has been the topic of several research reports. Melius assumed coverage on shares of ConocoPhillips in a research note on Wednesday. They issued a "hold" rating and a $117.00 price target on the stock. Roth Capital restated a "buy" rating and issued a $108.00 price objective on shares of ConocoPhillips in a report on Thursday, August 7th. Raymond James Financial lifted their price target on shares of ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Wells Fargo & Company restated an "overweight" rating and set a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Finally, UBS Group boosted their price objective on shares of ConocoPhillips from $116.00 to $124.00 and gave the stock a "buy" rating in a research report on Wednesday. Sixteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $120.95.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the stock in a transaction dated Monday, June 16th. The stock was bought at an average price of $94.24 per share, with a total value of $499,472.00. Following the acquisition, the executive vice president owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.24% of the company's stock.

ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.